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Hamdi Ulukaya Secures $1.2 Billion Investment for Chobani Manufacturing Hub in Pennsylvania

Hamdi Ulukaya, the founder and CEO of Chobani, has secured a $1.2 billion investment to establish a major manufacturing hub in Pennsylvania. The yogurt maker is acquiring a 1.5-million-square-foot facility from Keurig Dr Pepper in Upper Macungie Township. This purchase includes the facility lease, equipment, and operations for approximately $125 million. Simultaneously, Chobani is buying back Keurig Dr Pepper's full equity stake in the company for $800 million. Keurig Dr Pepper will use the proceeds to reduce debt as it prepares to split into two entities: Beverage Co. and Global Coffee Co. The Allentown facility will serve as a hub for Chobani's "Super Milk" product, eventually sourcing more than 3 billion pounds of Pennsylvania milk annually. The administration announced a $50 million commitment through the Pennsylvania Strategic Investments to Enhance Sites Program to prepare the site for Chobani's expansion. Ulukaya stated that the deal was made possible by coordination between state and local leadership to overcome infrastructure challenges, particularly regarding wastewater and energy. The state is also committing $127 million directly to dairy farmers to support the increased demand.

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